Grocery Outlet Holding Corp. $GO Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its holdings in Grocery Outlet Holding Corp. by 33.7%, now owning 488,065 shares worth approximately $6.82 million.
• Grocery Outlet's latest earnings report revealed an EPS of $0.23, surpassing expectations, while revenues reached $1.18 billion.
• Analysts have mixed opinions on Grocery Outlet, with a consensus rating of "Hold" and a target price around $16.08, reflecting varying degrees of investment interest.

Russell Investments Group Ltd. lessened its stake in shares of Grocery Outlet Holding Corp. (NASDAQ:GO - Free Report) by 33.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488,065 shares of the company's stock after selling 248,114 shares during the quarter. Russell Investments Group Ltd. owned about 0.50% of Grocery Outlet worth $6,823,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. HighTower Advisors LLC purchased a new stake in shares of Grocery Outlet during the first quarter worth approximately $153,000. Public Sector Pension Investment Board raised its stake in shares of Grocery Outlet by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 308,088 shares of the company's stock worth $4,307,000 after purchasing an additional 66,076 shares during the last quarter. Entropy Technologies LP raised its stake in shares of Grocery Outlet by 47.7% during the first quarter. Entropy Technologies LP now owns 17,696 shares of the company's stock worth $247,000 after purchasing an additional 5,713 shares during the last quarter. Invesco Ltd. grew its holdings in Grocery Outlet by 19.0% during the first quarter. Invesco Ltd. now owns 992,675 shares of the company's stock worth $13,878,000 after acquiring an additional 158,302 shares during the period. Finally, Manhattan West Asset Management LLC grew its holdings in Grocery Outlet by 44.8% during the first quarter. Manhattan West Asset Management LLC now owns 43,097 shares of the company's stock worth $602,000 after acquiring an additional 13,341 shares during the period. Hedge funds and other institutional investors own 99.87% of the company's stock.

Grocery Outlet Price Performance

Shares of GO traded up $0.04 during trading hours on Tuesday, reaching $18.63. 2,659,789 shares of the company traded hands, compared to its average volume of 4,159,555. The company has a quick ratio of 0.25, a current ratio of 1.21 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.83 billion, a PE ratio of 266.18, a price-to-earnings-growth ratio of 4.06 and a beta of 0.27. Grocery Outlet Holding Corp. has a fifty-two week low of $10.26 and a fifty-two week high of $21.67. The stock has a fifty day simple moving average of $14.83 and a 200 day simple moving average of $14.37.

Grocery Outlet (NASDAQ:GO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Grocery Outlet had a return on equity of 6.34% and a net margin of 0.18%.The business's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Grocery Outlet has set its FY 2025 guidance at 0.750-0.800 EPS. As a group, research analysts predict that Grocery Outlet Holding Corp. will post 0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GO. Morgan Stanley raised Grocery Outlet from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $13.00 to $16.00 in a report on Wednesday, August 6th. Craig Hallum raised Grocery Outlet from a "hold" rating to a "buy" rating and set a $17.00 price objective on the stock in a report on Wednesday, August 6th. Wells Fargo & Company upped their price objective on Grocery Outlet from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. UBS Group upped their price objective on Grocery Outlet from $14.50 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $16.00 price objective on shares of Grocery Outlet in a report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $16.08.

Insider Activity at Grocery Outlet

In related news, EVP Steven K. Wilson sold 5,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $18.24, for a total transaction of $91,200.00. Following the sale, the executive vice president owned 141,923 shares of the company's stock, valued at $2,588,675.52. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by insiders.

Grocery Outlet Company Profile

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.